Artemis Investment Management LLP Has $98.94 Million Position in Elevance Health, Inc. (NYSE:ELV)

Artemis Investment Management LLP decreased its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 11.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,264 shares of the company’s stock after selling 24,352 shares during the quarter. Elevance Health comprises about 1.5% of Artemis Investment Management LLP’s portfolio, making the stock its 11th biggest holding. Artemis Investment Management LLP owned about 0.08% of Elevance Health worth $98,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sugarloaf Wealth Management LLC lifted its holdings in shares of Elevance Health by 15.4% during the third quarter. Sugarloaf Wealth Management LLC now owns 374 shares of the company’s stock worth $195,000 after purchasing an additional 50 shares during the period. Atomi Financial Group Inc. grew its stake in Elevance Health by 4.2% during the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after purchasing an additional 25 shares during the period. Insight Wealth Strategies LLC increased its stake in Elevance Health by 2.1% in the third quarter. Insight Wealth Strategies LLC now owns 3,083 shares of the company’s stock valued at $1,603,000 after purchasing an additional 62 shares in the last quarter. Axiom Advisory LLC grew its stake in Elevance Health by 1.6% in the third quarter. Axiom Advisory LLC now owns 8,000 shares of the company’s stock valued at $4,274,000 after acquiring an additional 125 shares during the period. Finally, Sara Bay Financial bought a new stake in shares of Elevance Health during the third quarter worth about $755,000. 89.24% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ELV has been the subject of a number of recent analyst reports. Royal Bank of Canada upped their price objective on Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. Wells Fargo & Company reduced their target price on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Stephens reiterated an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a report on Thursday, September 5th. Bank of America reissued a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Finally, TD Cowen dropped their target price on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $604.29.

Elevance Health Trading Down 0.5 %

Shares of ELV stock opened at $489.47 on Wednesday. The firm has a market capitalization of $113.76 billion, a P/E ratio of 18.50, a PEG ratio of 1.17 and a beta of 0.82. Elevance Health, Inc. has a fifty-two week low of $435.99 and a fifty-two week high of $567.26. The stock’s fifty day moving average is $535.11 and its two-hundred day moving average is $529.75. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.99 by $0.13. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. During the same quarter in the prior year, the company earned $9.04 earnings per share. The business’s quarterly revenue was down .4% on a year-over-year basis. Research analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.33%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insiders Place Their Bets

In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,058 shares of company stock worth $17,588,116. Corporate insiders own 0.35% of the company’s stock.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.